Rumble and Jiva Technologies Embrace Bitcoin for Corporate Treasury Strategy
In a move reflective of the growing institutional interest in Bitcoin, online video platform Rumble and Canadian wellness company Jiva Technologies have recently announced their adoption of Bitcoin as part of their corporate treasury strategy.
Increasing Appeal of Bitcoin as a Treasury Asset
Market observers have noted a trend of businesses seeking alternatives to traditional financial assets, with Bitcoin emerging as a popular choice for companies looking to diversify their treasury reserves.
Rumble’s $20 Million Bitcoin Investment
Rumble made headlines on Nov. 25 when it revealed its plan to allocate up to $20 million from its excess cash reserves for a Bitcoin Treasury Strategy. CEO Chris Pavlovski cited Bitcoin’s potential to hedge against inflation and its appeal as a non-governmental currency as key factors in the decision.
In a statement, Pavlovski emphasized the importance of Bitcoin in strengthening Rumble’s connection with the crypto community, highlighting the accelerated adoption of Bitcoin in recent times.
Social Media Poll Drives Decision
Pavlovski’s decision to adopt Bitcoin was further reinforced by a social media poll on X, where over 93% of participants supported the move. This decision coincided with Rumble’s stock price rising by more than 4% in pre-market trading.
Jiva Technologies Joins the Bitcoin Bandwagon
On the same day, Jiva Technologies announced its decision to invest up to $1 million in Bitcoin as part of its treasury strategy. CEO Lorne Rapkin emphasized Bitcoin’s scarcity and finite supply as key factors in the company’s decision, aligning with its vision of financial resilience and innovation.
Rapkin expressed confidence in Bitcoin’s role as a store of value and its potential for favorable regulatory frameworks, highlighting the recent surge in Bitcoin ETFs as a sign of growing institutional acceptance.
Both Rumble and Jiva Technologies’ bets on Bitcoin as an inflation hedge have garnered positive attention, showcasing the increasing mainstream adoption and recognition of Bitcoin’s value proposition.
